Energy Transfer LP $ET Shares Bought by Turtle Creek Wealth Advisors LLC

Key Points

• Turtle Creek Wealth Advisors LLC increased its stake in Energy Transfer LP by 9.5%, acquiring an additional 61,218 shares, bringing their total holdings to 703,587 shares valued at approximately $12.76 million.
• Energy Transfer recently increased its quarterly dividend to $0.33, representing an annual yield of 7.8%, despite a payout ratio exceeding 100%.
• Analysts have set a consensus target price for Energy Transfer LP at $22.46, with fourteen analysts rating the stock a "Buy" and one a "Hold."

Turtle Creek Wealth Advisors LLC raised its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 703,587 shares of the pipeline company's stock after acquiring an additional 61,218 shares during the period. Energy Transfer accounts for about 1.5% of Turtle Creek Wealth Advisors LLC's holdings, making the stock its 13th biggest position. Turtle Creek Wealth Advisors LLC's holdings in Energy Transfer were worth $12,756,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Chelsea Counsel Co. raised its holdings in Energy Transfer by 370.3% in the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company's stock valued at $1,705,000 after acquiring an additional 74,050 shares during the last quarter. Prevail Innovative Wealth Advisors LLC raised its holdings in Energy Transfer by 316.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock valued at $2,181,000 after acquiring an additional 89,173 shares during the last quarter. Highland Capital Management LLC acquired a new position in Energy Transfer in the 2nd quarter valued at $930,000. Northern Trust Corp raised its holdings in Energy Transfer by 223.5% in the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company's stock valued at $19,883,000 after acquiring an additional 738,885 shares during the last quarter. Finally, Appaloosa LP grew its stake in shares of Energy Transfer by 0.9% during the 1st quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company's stock valued at $92,155,000 after buying an additional 42,500 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Up 2.1%

Shares of Energy Transfer stock opened at $16.89 on Thursday. The company has a fifty day moving average price of $17.27 and a 200 day moving average price of $17.42. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The stock has a market cap of $57.96 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts' consensus estimates of $0.32. The firm had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm's revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 EPS. Equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is currently 102.33%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ET shares. TD Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 price objective for the company. Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating for the company. Wells Fargo & Company reissued an "overweight" rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Barclays reissued an "overweight" rating and set a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Energy Transfer presently has an average rating of "Moderate Buy" and a consensus target price of $22.46.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.28% of the stock is currently owned by insiders.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.

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